A Basic Manual Accounting System Includes All of the Following

question 129

Multiple Choice

A basic manual accounting system includes all of the following except a

• A) chart of accounts
• B) two-column journal
• C) general ledger
• D) computer on which the system runs

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Definitions:

Financing Statement

A document, usually a multicopy form, filed in a public office serving as constructive notice to the world that a creditor claims a security interest in collateral that belongs to a certain named debtor.

State Statute

Laws enacted by the legislative bodies of individual states that govern within the state's boundaries, differing from federal statutes which apply across the United States.

Filed

The act of submitting documents officially to a designated authority or office for the purpose of record-keeping and review.

Perfection Method

Legal procedures used to establish a secured party's rights in a collateral against third parties, especially in bankruptcy.